Qorvo (NASDAQ:QRVO) Releases Earnings Results, Beats Expectations By $0.53 EPS

Key Points

• Qorvo beat quarterly expectations: The semiconductor company reported $1.64 in EPS versus the $1.11 consensus estimate, while revenue of $784.79 million exceeded expectations of $743.28 million. It also updated its FY 2027 EPS guidance to $7.00.
• Shares rose 2.2% to $91.76 following the results, giving Qorvo a market capitalization of approximately $8.1 billion.
• Analyst sentiment remains cautious: Qorvo has an average “Hold” rating and a $97.07 consensus price target, while insiders sold nearly $199 million of stock over the past three months.

Qorvo (NASDAQ:QRVO - Get Free Report) announced its quarterly earnings results on Tuesday. The semiconductor company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.53, FiscalAI reports. The company had revenue of $784.79 million during the quarter, compared to analysts' expectations of $743.28 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%. Qorvo updated its FY 2027 guidance to 7.000-7.000 EPS.

Qorvo Stock Up 2.2%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

QRVO traded up $2.00 during trading on Tuesday, reaching $91.76. The company had a trading volume of 1,876,040 shares, compared to its average volume of 1,277,651. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. Qorvo has a 12 month low of $74.92 and a 12 month high of $109.49. The business's fifty day moving average price is $94.58 and its 200 day moving average price is $86.59. The company has a market cap of $8.10 billion, a P/E ratio of 25.35, a PEG ratio of 1.36 and a beta of 1.44.

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares of the company's stock, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president owned 71,038 shares of the company's stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock worth $198,911,103 over the last three months. 0.49% of the stock is currently owned by insiders.

Institutional Trading of Qorvo

A number of institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Qorvo by 440.1% during the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company's stock worth $589,000 after buying an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Qorvo by 158.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company's stock worth $180,000 after acquiring an additional 1,301 shares during the last quarter. First Trust Advisors LP boosted its position in Qorvo by 56.5% during the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company's stock worth $12,100,000 after acquiring an additional 51,475 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Qorvo during the 2nd quarter worth approximately $428,000. Finally, Cerity Partners LLC bought a new position in shares of Qorvo during the 2nd quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Craig Hallum reissued a "buy" rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. UBS Group upped their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, Barclays raised Qorvo from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $97.07.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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